JPMorgan Chase & Co. Boosts Holdings in Star Group, L.P. (NYSE:SGU)

JPMorgan Chase & Co. increased its holdings in shares of Star Group, L.P. (NYSE:SGU) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 622,573 shares of the pipeline company’s stock after buying an additional 66,806 shares during the period. JPMorgan Chase & Co.’s holdings in Star Group were worth $7,309,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SGU. Victory Capital Management Inc. purchased a new stake in shares of Star Group during the third quarter worth $566,000. Acadian Asset Management LLC acquired a new stake in Star Group in the 2nd quarter valued at about $232,000. American Century Companies Inc. purchased a new position in shares of Star Group in the 2nd quarter valued at about $124,000. GSA Capital Partners LLP grew its position in shares of Star Group by 89.4% during the third quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock worth $269,000 after buying an additional 10,799 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Star Group by 0.3% during the second quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company’s stock worth $10,623,000 after buying an additional 2,800 shares during the period. 40.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Star Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Star Group Trading Up 1.3 %

NYSE:SGU opened at $11.44 on Wednesday. The company has a market capitalization of $395.57 million, a PE ratio of 20.07 and a beta of 0.48. Star Group, L.P. has a 52-week low of $9.64 and a 52-week high of $12.93. The stock’s 50 day moving average price is $11.83 and its 200 day moving average price is $11.55. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 0.71.

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 28th were given a dividend of $0.1725 per share. The ex-dividend date was Monday, October 28th. This represents a $0.69 dividend on an annualized basis and a yield of 6.03%. Star Group’s payout ratio is 121.05%.

Star Group Profile

Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis.